Saturday, July 22, 2017

M&A

Aviva to sell Friends Provident for US$443m

Aviva to sell Friends Provident for US$443m

It has agreed to sell the business to RL360 Holding Company, a unit of International Financial Group, to free up capital.

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Manulife considers selling US unit in Asia refocus

Manulife considers selling US unit in Asia refocus

The Canadian insurer is reportedly toying with the idea of divesting its Boston-based John Hancock Financial Services division.

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Chinese insurers advised to divest non-core assets

Chinese insurers advised to divest non-core assets

An official from the the China Insurance Regulatory Commission has cautioned against a wide range of risks facing the industry.

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India’s HDFC Life shareholders push IPO plans

India’s HDFC Life shareholders push IPO plans

Standard Life is reportedly keen to move forward with the listing after the merger with Max Group’s is likely to be called off.

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Sale of SCB insurance unit to FWD halted

Sale of SCB insurance unit to FWD halted

What could have been the largest insurance M&A transaction in South-East Asia has failed on valuation differences.

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OCBC sells 33.3% stake in Hong Kong Life Insurance

OCBC sells 33.3% stake in Hong Kong Life Insurance

The sale to First Origin International yielded a return of around US$309m.

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CIRC crackdown hits universal life sales

CIRC crackdown hits universal life sales

Premiums are down 59% year-on-year on the back of an aggressive campaign to tame market players.

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Anbang sues former owners of Tongyang Life

Anbang sues former owners of Tongyang Life

In a case of buyer’s remorse, the Chinese insurer has complained that the sellers deliberately concealed risks.

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Mirae Asset Life to buy 50% stake in Prevoir Vietnam

Mirae Asset Life to buy 50% stake in Prevoir Vietnam

The deal marks Mirae’s entry into the Vietnamese market, having reportedly outbid a Chinese competitor.

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Five Philippine non-life insurers to exit industry

Five Philippine non-life insurers to exit industry

Some non-life insurers in the country have decided to voluntarily exit the insurance business by year-end.

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Tahoe completes acquisition of Dah Sing Insurance

Tahoe completes acquisition of Dah Sing Insurance

The HK$10.6b transaction sees Paula Wai-Yee Choi become CEO of the Hong Kong insurer.

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Tokio Marine raises stake in Indian unit

Tokio Marine raises stake in Indian unit

The Japanese insurer now holds 49% in the unit after buying an additional 23% stake for US$392m.

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Industry fears fall-out from Anbang crisis

Industry fears fall-out from Anbang crisis

There are worries that the crisis at Anbang will lead to a liquidity crunch that could affect the financial industry.

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Plan to merge three Indian insurers scrapped

Plan to merge three Indian insurers scrapped

Oriental Insurance, National Insurance and United India Insurance have been asked to come up with a new plan.

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Regulator opposes merger of Indian life firms

Regulator opposes merger of Indian life firms

Irdai has disapproved the proposed merger of Max Life and HDFC Standard Life, based on the structure of the deal.

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Aviva eyes fintech future with AI acquisitions

Aviva eyes fintech future with AI acquisitions

The British insurer has said that acquisitions related to artificial intelligence and big data are in the pipeline.

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Fairfax sells stake in Indian JV

Fairfax sells stake in Indian JV

The Canadian company has sold 12.18% of its stake in general insurance firm ICICI Lombard General Insurance.

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Asian-American group to buy Fidelity for US$1.84bn

Asian-American group to buy Fidelity for US$1.84bn

CF Corp announced it would buy the US annuities and life insurer via an all-cash transaction.

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers